- Jun 21, 2021
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In Laos, several companies have allowed mining and crypto trading
A special working group was created in the country. Its task will be "to study and determine the basics of legal crypto regulation."
With this decision, the government legalized both the mining and trading of crypto. But so far, only for selected companies. Six organizations in the experimental mode will use BTC, LTC, and ETH.
Analysts identify two main possible reasons for this decision. Firstly, Laos' hydroelectric power plants produce too much electricity. Mining farms will be able to use energy without harming the country. Secondly, before the pandemic, their primary source of income was tourism. COVID-19 has hit the economy of Laos. Against the background of the ban on mining in China and the mass transfer of capacities to other countries, Laos will level out its economic situation.